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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (89)	7/31/2002 10:59:38 AM
From: Famularo	Read Replies (1) \| Respond to of 16205

Ashton confirms Artemisia kimberlite; Thrift results Ashton Mining of Canada Inc ACA Shares issued 49,062,149 Jul 30 2002 close $ 1.92 Wednesday July 31 2002 News Release Mr. Robert Boyd reports ARTEMISIA MINI-BULK SAMPLE RESULTS; THRIFT KIMBERLITE DIAMOND ... Ashton Mining of Canada has received the diamond results from a mini-bulk sample collected from the Artemisia kimberlite and microdiamond results on the Thrift kimberlite. Both kimberlites are situated on the Kim property in the Coronation Gulf region of Nunavut. Artemisia mini-bulk sample The Artemisia kimberlite was discovered in the fall of 2001. As reported on April 24, 2002, a mini-bulk sample weighing 11.0 tonnes was collected from seven core holes. The drilling confirmed that Artemisia is a homogeneous kimberlite having a vent-like shape and an estimated surface area of three hectares. The mini-bulk sample was processed through the dense media separation plant at Ashton's North Vancouver laboratory and returned a total of 1.176 carats of diamonds larger than 0.8 millimetre using a square aperture screen. These results give the sample an estimated diamond content of 10.69 carats per hundred tonnes. The largest diamond recovered was a colourless total crystal weighing 0.08 carat. The results from this sample indicate that this kimberlite is unlikely to have economic potential. No further work is planned on Artemisia at present. Thrift kimberlite The discovery of the Thrift kimberlite, situated approximately 2.5 kilometres southwest of Artemisia, was announced in Stockwatch on April 24, 2002. Hypabyssal facies kimberlite float and outcrop were identified on a lakeshore when a field crew investigated a magnetic anomaly having an approximate diameter of 100 metres. Nine microdiamonds were recovered from a sample of surface material weighing 100.8 kilograms. A microdiamond is defined as greater than 0.1 millimetre and less than 0.5 millimetre in at least one dimension. The analysis was carried out by caustic dissolution at Ashton's laboratory in North Vancouver. A ground geophysical survey was completed on Thrift during the spring field program. Further evaluation of this kimberlite may be undertaken in late August or September. Slave joint venture summer exploration program Despite the results from the Artemisia mini-bulk sample, the corporation's properties in the Coronation Gulf region of Nunavut continue to demonstrate encouraging exploration potential. Ashton has discovered six kimberlites in this region since 1999, five of which are diamondiferous. The corporation has also identified numerous unexplained indicator mineral and geophysical anomalies on the more than 218,000 hectares of mineral claims that are currently under exploration in the region with Pure Gold Minerals pursuant to the Slave joint venture agreement. The joint venture's summer exploration program commenced during the week of July 22 and will focus on evaluating the Kim, Vic, Eokuk, Ric and James River properties. The program will include further prospecting and detailed heavy mineral sampling in relation to the unexplained indicator mineral and geophysical anomalies. Property-scale indicator mineral sampling will also be conducted. If these activities identify high-priority targets, they will be considered for drilling before the end of the current field season. Ashton holds an interest of 89.4 per cent in the Slave joint venture. The corporation is the operator of the programs, and Brooke Clements, professional geologist and Ashton's vice-president, exploration, is responsible for the design and conduct, and the verification and quality assurance of analytical results. Pure Gold is contributing to the current program.

To: Famularo who wrote (89)	8/1/2002 3:57:49 PM
From: IngotWeTrust	Respond to of 16205

wrt 2 Ur comments Another Ashton Bust....and....Wrong! IMO, based on the trading pattern during the last 5-7 trading days, a cult was aware of the results. frank Reading this reminds me, anew and afresh why Mr Market seems to hesitate on "good diamond news" and why it takes upwards of 9 years for any promising project to actually produce production. Not a nickels worth of difference between Early Ashton JV information flow and DeBeers. Never was. Never will be. Thanks for reminding us again of what's real and what's just a "real sparkly"... g_t